Category: Philanthropy

In the aftermath of 2017’s Hurricane Harvey, the residents of Houston struggled to piece their lives back together. This was no easy task with many homes destroyed, streets flooded, and the most basic supplies hard to come by. Many volunteers and organizations came to rescue, including Nabors Industries. Under the leadership of Anthony “Tony” Petrello, it has not been uncommon for Nabors to assist when the need arises.

The employees of Nabors share in Petrello’s passion. When many expressed their desire to assist with the clean-up, Nabors offered paid time off in appreciation. Employees scattered along the Gulf Coast to offer help wherever needed. They also started making their own contributions to the effort. These contributions became the Nabors Disaster Relief Fund, with Petrello joining in by matching the $173,622 raised by the employees.

Tony Petrello is well-known in the Houston area for his philanthropy. Raised in a New Jersey working-class home, Petrello has never lost his connection with his past. As a child prodigy in mathematics, Petrello was able to attend Yale with a full scholarship. However, his interests changed and he decided to attend Harvard Law School after graduation.

In 1979 Petrello began his professional career with the law firm of Baker and McKenzie, becoming the managing partner of their New York office. In 1991, Petrello was offered a position on the Board of Directors of Nabors Industries, rising first to President and Chief Operations Officer, and then CEO in 2012. His ongoing leadership has helped the company to expand its acquisitions, adapting and prospering in today’s competitive, ever-evolving market.

Tony and his wife, Cynthia have also continued to pursue their passion for supporting important causes. Nabors Charitable Foundation has offered over $3 million in scholarships for both employees and their children. Petrello has donated a $150,000 endowment to Yale University for students showing promise in the area of Mathematics. And possibly most dear to the Petrellos’ heart is the Duncan Neurological Research Institute. Started by a $7 million donation, the institute is the first of its kind for research into childhood neurological disorders. Tony Petrello also serves as a board member at the Texas Children’s Hospital.

Taking his social responsibility seriously, Petrello has expressed his belief that as Nabors Industries grows, so ought its generosity. No doubt the community will continue to benefit from Tony Petrello’s vision and leadership.

George Soros is a name that is widely known by American citizens due to his involvement in American politics, business and also due to his works of philanthropy. The eighty-seven-year-old Hungarian American man has lived long enough to know that the only way to make the world a better place is through giving back. He is one of the wealthiest men in America and has even made it to the Forbes list and ranks on the top positions. Nonetheless, George Soros is not one of those lucky go fellows, and he had to work hard all the way to success as he once had to work as a waiter and railway porter so he could afford to finance his education. However, that does not deter him from giving back to the society. According to the open society foundation website, Soros has given more than 32 billion dollars to charity, and he is a well-known supporter of charitable organizations. He is also known for his fight against injustice and is a champion of equality. George Soros aims at making the world a better place by ensuring that even the less privileged have access to better education equal job opportunities. That explains why he is actively involved in politics.

According to Forbes, Soros is the twentieth richest person in America with a net worth of about twenty-three billion. However, being given the prominent position on Forbes did not stop Soros from giving away eight billion of his fortune to charity which caused him to drop to the 59th spot of America’s wealthiest persons. According to the chief communications officer of the Open society foundation Laura Silber, the massive donation will go a long way in assisting the organization to achieve its objectives which include advancing for justice and equality in the world at large. Through the open society foundation in which he is the founder, Soros has achieved significant milestones because the organization funds other foundations which also have the same mission as the open society. He has also helped different continents such as Africa and Asia significantly through the foundation. For example, it has funded myriads of refugee and also immigrant charity organizations such as the Roma Children.

Even though most of us can see that he has the right intentions, the eighteen million donation did not go unnoticed by critics. According to a news article by the New York Times, some people claim that the move was aimed at reducing the taxes which he would be charged if the fortune continues to be in his ownership. Reason being, donations to charity organizations only get a deductible tax of approximately 30%, and according to a report by Forbes, some people even went to the extent of holding Anti- Soros protests. Born and raised in Budapest, George Soros has had a long way coming as he was also caught in the middle of world war ii and being a Jewish meant that he faced all the wrath coming from the Nazi government. His success comes solely from his hedge fund, and he can thank his prowess in finance economics to his bachelors from the London School of economics. Soros also holds a master in philosophy from the same institution. In addition to his charitable acts, George is also a well-known author, and he writes on different topics such as politics. and Follow him Twitter.com

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